{"data":{"id":"us-va/va.-code-6.2-1048","jurisdiction":"us-va","citation":"Va. Code § 6.2-1048","heading":"Organization of subsidiary trust companies","body":"A. A subsidiary trust company may be incorporated and organized under Article 3 (§ 13.1-618 et seq.) of Chapter 9 of Title 13.1 or under federal laws relating to national banking associations for the purpose of conducting a trust business and other activities and business incidental thereto in which a trust subsidiary is permitted to engage as provided in § 6.2-1049.B. All the outstanding voting shares of a subsidiary trust company, other than directors' qualifying shares, shall be owned directly or indirectly through a subsidiary by (i) one or more Virginia bank holding companies, (ii) one or more banks authorized to have a main or parent office in Virginia, or (iii) both.C. A trust subsidiary shall be subject to regular examination and supervision by the Commission or by the Comptroller of the Currency of the United States.D. If incorporated under Title 13.1, a trust subsidiary shall pay such examination fees as may be from time to time imposed upon trust departments of banks that are subject to examination by the Commission.1974, c. 286, § 6.1-32.3; 1991, c. 282; 2004, c. 781; 2010, c. 794.","path":["Title 6.2. FINANCIAL INSTITUTIONS AND SERVICES","Subtitle II. DEPOSITORY INSTITUTIONS AND TRUST ORGANIZATIONS","Chapter 10. ENTITIES CONDUCTING TRUST BUSINESS","Article 3. TRUST SUBSIDIARIES"],"source_url":"https://law.lis.virginia.gov/vacode/6.2-1048/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:12:34Z","sha256":"cf348cdd6b8ebdcfb82a7e460df54e231687b1ea8a5fd1d97969765ee6e75c0d","source_id":"us-va","stale":true,"prev":"us-va/va.-code-6.2-1047","next":"us-va/va.-code-6.2-1049"},"notice":"GroundRules: Original legal text. Not legal advice."}